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      Against a backdrop of geopolitical tensions, sluggish economic growth and industry demands for simplification, regulatory frameworks are being adapted at pace to facilitate growth, competitiveness and innovation.

      In this rapidly changing regulatory environment, KPMG’s 2025 Evolving Asset Management Regulation report serves as an essential resource for navigating today's shifting asset management regulatory landscape.

      This year’s report – the 15th in the series – features analysis of more than 200 regulatory developments across nearly 30 jurisdictions and global standard-setting bodies. Leveraging the KPMG member firms deep experience and innovative tools, this report identifies and explores the six key areas where asset management executives and firms will want to focus going forward.

      Download the full report

      Six key regulatory themes for asset managers

      Select one of the chapters below to get an overview of each of the six key regulatory themes. Or download the full report to get all the details from around the world.

      Review your product suite and explore new international market access possibilities.

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      Look for opportunities to offer retail investors private asset exposure within robust governance arrangements.

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      Continue to develop compliant AI use cases and work with pilot regimes to explore the benefits of AI, tokenization and digital assets.

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      Use new conduct frameworks to encourage a positive shift in culture and to re-evaluate whether current products and services continue to meet customer needs.

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      Look at operational resilience as a source of competitive advantage and focus on moving it out of project implementation and embedding it across the first line of defense.

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      Capitalize on efforts to simplify disclosure requirements and assess newly available data points to better inform investment decision-making.

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      If I were to use one word to describe the implications of the current regulatory environment, it would be ‘opportunity’. Asset managers should be prepared to make the most of it while it lasts.

      Jim Suglia

      Global Head of Asset Management

      KPMG International

      Evolving asset management regulation 2025 report

      An essential resource for navigating today's shifting asset management regulatory landscape

      Download the full report
      See the 2024 Evolving Asset Management Regulation Report

      How KPMG can help

      KPMG’s global network of asset management practices offers a wide range of services to clients at national, regional and global levels. KPMG professionals in Audit, Tax and Advisory are specialists in their fields and have deep experience in the issues and needs of investment management businesses.

      Member firms’ clients include investment managers, wealth managers, fund administrators and service providers which focus on mutual funds, hedge funds, private equity funds, infrastructure funds and real estate funds, and institutional investors such as pension funds and sovereign wealth funds.

      We have a range of services that can help you address risk and regulatory change and use it to accelerate business transformation. Contact your local KPMG member firm today to learn more.

      Our people

      Jim Suglia
      Jim Suglia

      Global Head of Asset Management, KPMG International and Leader of Alternative Investments

      KPMG in the U.S.

      David Collington
      David Collington

      Wealth and Asset Management, EMA FS Regulatory Insight Centre

      KPMG in the UK

      Chrystelle Veeckmans

      EMA Region Lead of Asset Management and Partner

      KPMG in Luxembourg

      Andrew Thompson
      Andrew Thompson

      Head of Deal Advisory, Head of Transaction Services, Head of Private Equity and Sovereign Wealth, Asia Pacific

      KPMG in Singapore